VANCOUVER, BC / ACCESSWIRE / February 2, 2021 / Legend Power® Systems (TSXV:LPS)(OTCQB:LPSIF) a global leader in commercial electrical system solutions, today announced the completion of the first installation of the SmartGATE platform through a major ESCO (Energy Services Company) in a State of New York school. The system has met its expected energy savings of 7.3%, and the completed installation is the first of several expected installations in the NY / NJ area with the ESCO.
"We have a deep heritage of success in hundreds of schools in Canada and we are very excited about our first deployment into a school in the New York region" says Mike Cioce, Vice President of Sales and Marketing for Legend Power Systems. "This particular ESCO is winning more business by adding our Intelligent Active Power Management System to the list of ECM's (energy conversation measures) they package for their Energy Performance Contracting business. Hitting our expected savings on top of the other measures they provide is critical for their long-term success, and we are pleased to have delivered for them and look forward to many more to come. We expect the second system to be complete in the coming weeks."
"Additionally, the SmartGATE Insights platform has identified multiple locations where the ESCO partner has long-term performance risk without the SmartGATE system. In fact, the ESCO partner appreciates that not only does SmartGATE save energy but also predicts and protects the other equipment they are installing. Ensuring our ESCO partners have the best possible chances of keeping these new measures functioning for the duration of these long-term agreements is key," said Mr. Cioce. "No building operator wants expensive electrical assets to deteriorate prematurely because of grid stability problems. Our SmartGATE platform finds these risks and protects these assets from the variability on the grid. Building operators simply cannot control the grid without SmartGATE."
The ESCO market in the U.S. is a US$15 billion a year business that bundles energy conservation measures for large public entities such as government organizations and others. SmartGATE is a patented, unique and differentiated offering, which provides our new partner a significant competitive advantage. These advantages include enhanced energy savings performance, electrical systems reliability and power quality management capabilities which boost our ESCO partner's value proposition and delivers it more sales wins.
About SmartGATE
SmartGATE is an industry-leading, turnkey solution, which identifies and fixes underperformance and waste in the electrical system of a commercial building. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction and financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including damaged tenant experience.
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment.
For further information, please contact:
Steve Vanry, CFO
+ 1 604 671 9522
svanry@legendpower.com
Sean Peasgood, Investor Relations
+ 1 647 503 1054
sean@sophiccapital.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Legend Power Systems Inc.
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